Emaar Properties joins Dubai Land Department's 'Tanmia' initiative
- United Arab Emirates: Sunday, June 03 - 2012 at 14:42
- PRESS RELEASE
The Dubai Land Department (LD) signed an agreement with Emaar Properties, whereby the property development company has officially joined Dubai Land Department's real estate development initiative (Tanmia) to enhnace mutual cooperation among official and unofficial institutions in Dubai to promote investment in various sectors in the emirate.
Majida Ali Rashid, Manager-Real Estate Investment Management & promotion Center, said, "The Department is keen on laying strong foundations of strategic mutual cooperation, motivated by our quest to support and enhance our collaboration in an effective manner that would contribute to developing real estate businesses and activities in Dubai, improving all technical, training and practical aspects for a more prosperous real estate sector."
She added that the agreement will strengthen mutual cooperation links between both parties as part of the Tanmia, which is an investment development program that seeks to provide unique investment opportunities and helps Emaar take informed decisions by providing a proper investment environment and by saving time, effort and money thanks to the long experience and best practices applied by the Department.
Rashid pointed out that Emaar Properties is playing a vital in building and implementing the housing strategy of Dubai through efficient coordination with all involved parties, mainly the Dubai Land Department.
Rashid welcomed this cooperation that serves the interests of the emirate, and the entry of more property developers and companies to join this initiative that supports the development of sustainable real estate projects, in line with the emirate's goals to implement sustainable measures and standards on all levels and aspects, led by real estate sustainability, in addition to reviving the market by concentrating on existing incomplete projects of all categories, and targeting public and private institutions to reap benefits in accordance with the market conditions and for the best of all parties' interests.
According to the agreement, the LD shall propose unique investment opportunities to Emaar, which would in turn review the projects and take proper decisions in accordance with its strategy, which creates a unique investment environment by saving time, money and effort while considering best practices and standards by determining and proposing the property (the project to be purchased) and evaluation of the property while exerting all possible efforts to overcome hurdles and legal restrictions or rights related to the project.
Ahmad Al Matrooshi said the various initiatives by Dubai Land Department help raise confidence in the real estate market. "Tanmia is an investment development program that seeks to create comprehensive investment opportunities and offer excellent services to new investors. Through the agreement, Emaar will co-operate to help make informed decisions on real estate investment, leveraging the excellent investment environment in Dubai facilitated through the initiatives of the Dubai Land Department."
He added that the success of such initiatives that seek to promote growth and excellence, requires the active participation of all stakeholders, and Emaar will contribute to setting the platform for a strong collaborative model that benefits the economy.
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